Cottonseed oil cake futures rise on spot demand

Cottonseed oil cake prices on Wednesday increased by Rs 4 to Rs 2,056 per quintal in futures trade as speculators created fresh positions driven by firm spot demand.

On the National Commodity and Derivatives Exchange, cottonseed oil cake for delivery in June traded up by Rs 4, or 0.19 per cent, to Rs 2,056 per quintal with an open interest of 26,830 lots.

Marketmen said raising of positions by participants amid rising demand from cattle-feed makers mainly influenced cottonseed oil cake prices here.

However, cottonseed oil cake contracts for delivery in July traded lower by Rs 13, or 0.63 per cent, to Rs 2,080 per quintal with an open interest of 29,540 lots. PTI